"Given the significance of the very large contracts we believe a prudent approach to revenue forecasting is necessary. None of the large deals in our pipeline have been lost - we're making good progress but wish to be cautious in setting market expectations."

Mr Haddleton said the company was in a better shape to deliver on opportunities in the second half as it had implemented $17m of annualised cash savings in the second quarter.

The company is forecasting monthly cash burn will fall to $2.4m in the second half, from $4.8m in the first half as a result of expected revenue increase and implemented cost savings.

Wynyard has this year revamped its board and restructured into two units while embarking on a cost-control strategy after a disappointing 2015 performance. Its shares recently traded at 37 cents and have tumbled 79 per cent this year.

The share price has fallen since a disappointing annual result in February, where revenue of $26.3m was well below the forecast $40m-to-$45m, followed by a heavily discounted rights issue in March to raise working capital.